Laffer Investments continued to hold its position in Prudential Financial, Inc. (NYSE:PRU) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,987 shares of the financial services provider’s stock at the end of the 2nd quarter. Laffer Investments’ holdings in Prudential Financial were worth $2,270,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PRU. BlackRock Inc. raised its holdings in Prudential Financial by 2.9% in the 2nd quarter. BlackRock Inc. now owns 33,155,309 shares of the financial services provider’s stock worth $3,585,415,000 after purchasing an additional 934,352 shares in the last quarter. Vanguard Group Inc. raised its holdings in Prudential Financial by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 30,272,486 shares of the financial services provider’s stock worth $3,229,469,000 after purchasing an additional 968,500 shares in the last quarter. Geode Capital Management LLC raised its holdings in Prudential Financial by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 4,297,520 shares of the financial services provider’s stock worth $457,822,000 after purchasing an additional 368,321 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Prudential Financial by 11.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,157,881 shares of the financial services provider’s stock worth $449,637,000 after purchasing an additional 442,168 shares in the last quarter. Finally, LSV Asset Management raised its holdings in Prudential Financial by 1.0% in the 2nd quarter. LSV Asset Management now owns 3,372,864 shares of the financial services provider’s stock worth $364,741,000 after purchasing an additional 32,998 shares in the last quarter. Institutional investors own 64.45% of the company’s stock.

Shares of Prudential Financial, Inc. (NYSE PRU) traded up 0.88% during mid-day trading on Tuesday, reaching $104.29. 515,009 shares of the company traded hands. The stock has a market capitalization of $44.53 billion, a PE ratio of 11.64 and a beta of 1.49. The firm has a 50 day moving average of $104.74 and a 200-day moving average of $106.94. Prudential Financial, Inc. has a 52 week low of $78.50 and a 52 week high of $115.26.

Prudential Financial (NYSE:PRU) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $2.09 EPS for the quarter, missing the Zacks’ consensus estimate of $2.70 by ($0.61). The firm had revenue of $13.03 billion during the quarter, compared to the consensus estimate of $12.45 billion. Prudential Financial had a return on equity of 8.98% and a net margin of 7.15%. During the same quarter in the prior year, the firm posted $1.84 earnings per share. On average, equities research analysts expect that Prudential Financial, Inc. will post $10.14 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 14th. Stockholders of record on Tuesday, August 22nd were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, August 18th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.90%. Prudential Financial’s payout ratio is 33.63%.

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Several research analysts have commented on PRU shares. BidaskClub lowered shares of Prudential Financial from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Credit Suisse Group decreased their price objective on shares of Prudential Financial from $121.00 to $120.00 and set a “neutral” rating for the company in a report on Tuesday, May 23rd. ValuEngine upgraded shares of Prudential Financial from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “hold” rating and issued a $117.00 price objective on shares of Prudential Financial in a report on Wednesday, September 6th. Finally, Wells Fargo & Company restated a “hold” rating on shares of Prudential Financial in a report on Tuesday, June 6th. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $111.49.

In other news, insider Nicholas C. Silitch sold 14,897 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $110.00, for a total transaction of $1,638,670.00. Following the sale, the insider now owns 21,274 shares in the company, valued at $2,340,140. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman John R. Strangfeld, Jr. sold 201,585 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $110.00, for a total value of $22,174,350.00. Following the sale, the chairman now owns 456,121 shares in the company, valued at approximately $50,173,310. The disclosure for this sale can be found here. Insiders have sold 220,615 shares of company stock worth $24,276,660 in the last 90 days. Insiders own 0.66% of the company’s stock.

Prudential Financial Company Profile

Prudential Financial, Inc, is a financial services company. The Company, through its subsidiaries, offers a range of financial products and services, which includes life insurance, annuities, retirement-related services, mutual funds and investment management. The Company’s operations consists of four divisions, which together encompass seven segments.

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Institutional Ownership by Quarter for Prudential Financial (NYSE:PRU)

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